Georgia State Cases

In CML V, LLC v. Bax, No. 735, 2010 (Del. Supr. Sept. 2, 2011) (click here for .pdf of opinion), the Delaware Supreme Court addressed the questions of whether a creditor can file a derivative action against a limited liability company.   Plaintiff CML asserted the following derivative claims against the present and former members of JetDirect Aviation Holdings, LLC:

In this prior post, I discussed a ruling by Judge Massey, wherein he ruled in favor of a Chapter 7 Trustee who sought to set aside a security deed that did not contain the appropriate signature of an unofficial witness. Gordon v. Wells Fargo, Adv. No. 08-6612, 430 B.R. 287 (December 10, 2009) (click here for the opinion). U.S. Bank (the successor-in-interest to Wells Fargo) appealed the decision to the District Court, which in turn certified the question to the Supreme Court of Georgia.

The State of Georgia is among the national leaders in banks closed by state and federal agencies.  So far in 2011, six Georgia banks have been closed, with the latest two being Habersham Bank and Citizens Bank of Effingham.  Since late 2008, when the banking crisis hit, a total of fifty seven Georgia banks have been closed.  Friday afternoons have become a death watch in the Georgia banking industry, as closings are generally announced on Friday after